Abstract
Higher education has the ability to contribute to global, national, and local growth. Institutions of higher education have played an important role in society throughout modern history, training the elite and making groundbreaking advances in science and the humanities. Education broadens people's perspectives on themselves and the world around them. It improves people's competitiveness and innovation while also encouraging entrepreneurship and technical advancement. This chapter will provide an insight on the role of higher educational institutes in economic development. The chapter will provide cross-country analysis and cases from different parts of the globe.
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